Cardano

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The weekend has started with continued bear dominance, according to <a href="https://u.today/binance-coin-bnb-price-analysis-for-august-18" rel="noopener noreferrer nofollow">CoinMarketCap's ranking</a>. 
<img alt="Top 10 coins by CoinMarketCap" data-entity-type="file" data-entity-uuid="228d46fd-a02c-4fb8-8c51-d3d64449f9f9" src="https://u.today/sites/default/files/inline-images/top10_607.png"> 
Top coins by&nbsp;<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
<h2 id="ada-usd">ADA/USD</h2> 
The rate of Cardano (ADA) has dropped by almost 1% over the last 24 hours. 
<img alt="ADA/USD chart by TradingView" data-entity-type="file" data-entity-uuid="9e97e1e4-d086-4b30-be65-0021019f39c8" src="https://u.today/sites/default/files/inline-images/ada1_72.png"> 
Image by <a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a> 
On the hourly chart, the price of Cardano (ADA) is trying to break the local resistance at $0.2647. If it manages to do that and fixes above, the upward move may continue to the $0.2680 mark tomorrow. 
<img alt="ADA/USD chart by TradingView" data-entity-type="file" data-entity-uuid="02b7b46e-9e57-4aa6-8cbb-50fd4ed0224d" src="https://u.today/sites/default/files/inline-images/ada2_72.png"> 
Image by <a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a> 
On the bigger time frame, traders should focus on yesterday's peak at $0.2674. If the bar closes near it, there is a high possibility of further growth to the next resistance at $0.2761. 
Such a scenario is relevant until the end of the upcoming week. 
<img alt="ADA/USD chart by TradingView" data-entity-type="file" data-entity-uuid="c9d7aa97-f276-43da-aaa4-bdfdb9e1a61a" src="https://u.today/sites/default/files/inline-images/ada3_61.png"> 
Image by <a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a> 
On the weekly chart, the price of ADA is approaching the support level of $0.22. If sellers' pressure continues, the accumulated energy might be enough for a sharp drop to the $0.20 zone soon. 
ADA is trading at $0.2647 at press time.

Cardano (ADA) Price Analysis for August 19

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